Johor set to receive RM80b investment from China’s Rongsheng Petrochemical
05 Apr 2023
Johor is set to receive an RM80 billion investment from Rongsheng Petrochemical Co Ltd, the largest petrochemical company in China.
State investment, trade, and consumer affairs committee chairman Lee Ting Han said the company had previously expressed interest to invest in Pengerang after a series of visits to Johor and holding discussions with Menteri Besar Datuk Onn Hafiz Ghazi.
He highlighted that Prime Minister Datuk Seri Anwar Ibrahim and Minister of International Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz’s recent visit to China helped secure the investment commitment.
“Thank you to the Prime Minister and the Minister of International Trade and Industry who met with the company’s top management in Beijing and successfully obtained its commitment to invest in Malaysia.
“If it can be realised, it will be one of the biggest projects in Malaysia, after the Rapid oil refinery project by Petronas,” he told the media after visiting the RTS Link Johor Bahru-Singapore site at Marine Viaduct here, in response to media reports on Anwar’s announcement on the matter in Parliament yesterday.